Cabin Branch Clarksburg MD | 25% of Homes with a Mortgage are Now Equity Rich!
If you are looking to buy a home in Cabin Branch Clarksburg. As a real estate agent, I want to be prepared to ensure that you are given the best buying experience with knowledge and expertise to guide you along the way. One of the methods I use is to research the current inventory almost on a daily basis, I want to know where are the best deals for my clients when it comes to purchasing a brand new home in the Cabin Branch area.
Today, I would like to talk to you about 25% of Homes with a Mortgage are Now Equity Rich!
Rising home prices have been in the news a lot lately and much of the focus has been on whether home prices are accelerating too quickly, as well as how sustainable the growth in prices really is. One of the often-overlooked benefits of rising prices, however, is the impact that they have on a homeowner’s equity position.
Home equity is defined as the difference between the home’s fair market value and the outstanding balance of all liens (loans) on the property. While homeowners pay down their mortgages, the amount of equity they have in their homes climbs each time the value of their homes go up!
According to the latest Equity Report from ATTOM Data Solutions, “13.9 million U.S. properties in Q2 2018 were equity rich — where the combined estimated balance of loans secured by the property was 50 percent or less of the property’s estimated market value — representing 24.9% of all U.S. properties with a mortgage.”
This means that nearly a quarter of Americans who have a mortgage would be able to sell their homes and have a significant down payment toward their next home. Many who sell could also use their new-found equity to pay off high-interest credit cards or help children with tuition costs.
The map below shows the percentage of properties with a mortgage in each state that were equity rich in Q2 2018.
If you are a homeowner looking to take advantage of your home equity by moving up to your dream home, let’s get together to discuss your options!
If you have any questions about Cabin Branch, the schools, the amenities or the surrounding community, don't hesitate to call on us at 301-246-0001 We will be happy to help you. We specialize in Clarksburg and our agents also live here.
To reach us, please call 301-246-0001
Or send us an email to: info@ReallyNiceHomes.com
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www.99SOLD.com - Call or text 240-426-5754 for more information.